Regional and State Variation in Homeownership Rates; or If California's Home Prices Were As Low As Pennsylvania's Would Its Ownership Rate Be As High?
AbstractThere are significant disparities in homeownership rates across the regions and states of the United States. The causes of these disparities are determined within a standard probit model of the individual homeownership decision where the micro-level observations are aggregated to the regional level. Factors which play a significant role at the individual level are evaluated for their ability to explain regional differentiation. The relative price of owning and renting plays a major role as do other market level determinants. Individual demographic characteristics are not as important with the exception of those related to the immigration and citizenship status of the household head. Copyright 2002 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Real Estate Finance & Economics.
Volume (Year): 24 (2002)
Issue (Month): 3 (May)
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Web page: http://www.springerlink.com/link.asp?id=102945
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- Oliver Lerbs & Christian Oberst, 2011. "Explaining the Spatial Variation in Homeownership Rates: Results for German Regions," CESifo Working Paper Series 3377, CESifo Group Munich.
- Sock Yong Phang, 2009.
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- Sock-Yong Phang, 2009. "Affordable homeownership policy : implications for housing markets," Microeconomics Working Papers 23052, East Asian Bureau of Economic Research.
- Jian Chen & David H. Downs, 2013. "Property Tax and Tenure Choice: Implications for China," International Real Estate Review, Asian Real Estate Society, vol. 16(3), pages 323-343.
- Hanson, Andrew, 2012. "Size of home, homeownership, and the mortgage interest deduction," Journal of Housing Economics, Elsevier, vol. 21(3), pages 195-210.
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